Botox-maker Allergan is spending about $2.48 billion to buy Zeltiq Aesthetics and its CoolSculpting system for reducing fat.
Allergan PLC says it will pay $56.50 for each share of Zeltiq in a deal it expects to close in the second half of this year. That represents a 14 percent premium to Zeltiq's $49.40 closing price Friday. The company's shares jumped nearly 13 percent early Monday.
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Allergan, based in Dublin, says the deal will strengthen an aesthetics business that already includes plastic surgery and regenerative treatments.
Zeltiq's non-surgical system cools fat cells to trigger their controlled elimination without affecting the surrounding tissue, according to Allergan Plc.
Shares of Zeltiq Aesthetics Inc., based in Pleasanton, California, rose $6.32, to $55.72 in premarket trading.